It is correct - you need to record the full amount (before stripe deducted their fees) as income, and then record the fees separately as an expense. Stripe provide you with an invoice during the first few days of each month for the total fees charged during the previous month (under “business settings” -> “documents” on your stripe dashboard) which you can treat as a normal purchase in QuickFile paid from the stripe holding account. This will account for a whole month’s fees in one go so you don’t have to record each one individually.

In fact, if you’re VAT registered then you must do it this way as you have to reverse-charge the monthly fee invoice.

I’m not sure you’ve understood the issue. We already record the stripe processing fees for VAT / reverse charging.The issue is the stripe processing fee transactions are missing for card payments made via QuickFile invoices only

The processing fee is missing from the feed, meaning we now have to manually add it in. The transactions are correctly listed within our Stripe account when I log in but they are missing from the QuickFile Stripe bank feed.

The payment processing works independently from the feed, so you can have the one enabled without the other. By design, the processing fee isn’t included as it’s easier (and uses less nominal ledger entries) to bulk enter the fees on a monthly basis to match the invoice.

We can certainly consider changing this, or allowing it on a per-account basis.

Maybe the simplest option would be to add another checkbox to the feed settings to make it ignore all fee transactions the same way as you can have it ignore payout transactions. That way you could more easily account for the fees in bulk based on the monthly invoice.

To give a bit of a better idea here, when the feed runs we check all your transactions that have happened since the last feed update. Before we insert anything into your account (like with any bank import or feed), we check for duplicates.

In this case, payments taken through QuickFile are automatically recorded, so a transaction already exists for these. As a result, when it’s received from the feed it’s flagged as a duplicate and skipped - which is correct.

The Stripe API doesn’t allow (as far as I’m aware) an overview of just the fees. You can view the transactions, and the fees associated with it. So when the feed skips the transaction, the fee is also skipped. If that makes sense?

JVE:

I’m not sure I follow? What can we have enabled / disabled independently?

Sorry - I mean pretty much what @ian_roberts mentioned - adding a checkbox or an option to turn the fees on/off on an account basis.

I’ll discuss this with our team and see if this could be an option. We’ll let you know if anything can be changed here.

I’d be on board with this too as I can get myself quite confused when reconciling Stripe payments (making sure they are grouped per VAT period etc). If the fees were downloaded with the payments it would make this relatively painless.

I think @ian_roberts suggestion to add an option to disable the processing fees would be the best approach, otherwise I’m getting a mix of transactions with and without processing fees and it becomes a bit of a headache.

It would be far simpler to have no processing fees at all and just use the invoice from Stripe each month. Would save a lot of tagging!